Friday 3 April 2015

Smart Weapons Market Segment Forecasts up to 2019, Research Reports:Transparency Market Research


The global smart weapons market in terms of demand, restraints, opportunities, key regional markets, and companies involved.According to the TMR document, the global smart weapons market is currently growing at a CAGR of 10.3% from 2013 to 2019. The market was calculated to be worth US$34 billion in 2012.

Browse Smart Weapons Market Report with Full TOC at http://www.transparencymarketresearch.com/smart-weapons-market.html

The key driver for the global smart weapons market is the growing need to possess weapons that are capable of showing high levels of precision to avoid warfare-related collateral damage. The global smart weapons market is further boosted by heavy spending on defense in terms of military resources modernization.The global smart weapons market also contains navigation systems of greater precision that are being increasingly incorporated into modern weaponry. This has also fueled the market growth.Other drivers of the global smart weapons market include the increasing consumer preference to guided bombs over conventional bombs.“Guided bombs are highly accurate in comparison to their conventional counterparts due to the highly advanced technology used in it,” said a TMR analyst, “and most users currently possess the capacity to purchase guided bombs, considerably improving the growth rate of the global smart weapons market.”


Another segment of the global smart weapons market that is currently enjoying high demand is the missile systems segment. Users are beginning to understand the usefulness of smart weapons in air-to-ground and surface-to-air missiles. The segment dominated the global smart weapons market in 2012 in terms of market share.The report provides segmentation of the global smart weapons market by product type into sensor-fused weapons, smart guns, electromagnetic pulse weapons, precision artillery ammunitions, smart missile systems, direct energy weapons, smart bombs, and smart bullets.From a geographical standpoint, the report states that North America is the largest regional segment of the global smart weapons market. The region is expected to maintain its dominion till the end of the forecast period.The Asia Pacific region is also expected to show substantial growth as a consumer of the global smart weapons market. The region is driven by increasing government efforts towards military resources modernization, especially in Japan, China, and India.


Another reason for the growth of the global smart weapons market is the growing number of conflicts around the world, according to the report. The large number of virtually endless conflicts in the Middle East, which include the Yemen War, Islamic unrest, and the Syrian Civil War, are accelerating the need for defense bodies to incorporate modern weaponry into their arsenal.

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